Updated Sep 22, 2026
Stephen Ross Of Related Ross Acquires Multifamily Properties In West Palm Beach For $20 Million
3906 Washington Road & 3907 South Flagler Drive
$20,000,000
$1,058/SF
Building Size
18,900 SF
Asset Type
MultiFamily
Closing
Sep 21, 2026
About this deal
AI
Related Ross acquired two multifamily properties located at 3906 Washington Road and 3907 South Flagler Drive in West Palm Beach, FL, for $20 million. The transaction involves a 25-unit apartment complex spread across four buildings with a total area of 18,900 square feet.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $20,000,000
- Units: 25
- Price Per Unit: $800,000
- Square Footage: 18,900
- Price Per Square Foot: $1,058
- Buyer: Stephen Ross - Related Ross
- Seller: Nadim Ashi - Fort Partners
Stephen Ross represents Related Ross in this acquisition, while Nadim Ashi represents Fort Partners as the seller in the transaction. Both parties are notable entities within the real estate market, contributing to the transaction's significance.
Players
Floyd MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.79%
Cash-on-Cash
-0.23%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93